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Internal Auditing for Fraud

Course Description

Print-friendly Course Description and Outline

​Appropriate for auditors at all levels, this course is a joint effort between The IIA and Deloitte & Touche. It focuses on monitoring activities, understanding the nature of fraud and how it manifests itself, internal audit’s role in detecting fraud, and audit steps to detect fraudulent activities.

Course Duration: 2 day(s)
CPE Hours Available: 16
Knowledge Level: Intermediate
Field of Study: Auditing


Advance Preparation: 


Delivery Format: On-site Training (Group-Live)

​Explain what fraud is and why it is an important concern for companies

  • Define fraud and discuss its core elements
  • List and review fraud statistics
  • Identify reasons why companies need to manage fraud risk
  • Describe the types of fraud and fraud schemes.

Create a Profile of a Fraudster

  • Describe and identify who commits fraud
  • Define the components of the fraud triangle
  • Define the three steps in committing a fraud
  • Identify the motivations of a fraudster
  • List the most common weaknesses and "soft spots" for fraud in an organization
  • Predict the most common ways that a fraudster can fool an internal auditor
  • Deconstruct a fraud scheme

Link the professional and regulatory standards regarding fraud to internal audit activities

  • Summarize the historical development of professional and regulatory standards regarding fraud
  • List the responsibilities of internal auditors regarding fraud
  • Describe the fraud expectation gaps between stakeholders (management, end users, etc.) and internal audit activities

Create a proactive internal audit approach to fraud

  • Describe the process of addressing fraud in the internal audit universe and audit plan
  • Summarize the steps in the fraud risk assessment process
  • Create or modify an existing audit plan to mitigate fraud risks identified in the fraud risk assessment
  • Integrate fraud audit techniques into the internal audit process

Analyze a process/account to apply fraud auditing techniques

  • List the fraud schemes that could occur within or around the process/account
  • Describe the normal operations and expectations of the process/account and its relationship with other processes/accounts
  • Develop a list of common red flags, symptoms, relationships, and conditions that may indicate fraud in this account/process
  • Design tests plans and scripts to identify conditions that may indicate fraud
  • Interpret test results
  • Create monitoring activities based on tests and findings

Respond to indicators of potential fraud

  • Identify when an internal audit should become a fraud investigation
  • Create a plan to respond to indicators of potential fraud

​Most courses can be delivered through on-site training. You might be surprised that the organization leading the profession is just as committed to the delivery of affordable training.

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